As large companies increase their engagement in the cryptocurrency sector, the Cardano ecology is changing dramatically. According to recent data, wallets holding over a million ADA have been rapidly growing since November 2023, amassing an additional 1.41 billion ADA tokens. This significant accumulation, which accounts for 2.35% of Cardano’s total supply, conveys a clear statement about the project’s institutional support.

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Cardano: Whale Activities Signal Market Confidence

Whale movements have had nothing less than a remarkable outcome: Santiment’s research reveals a solid 107% price increase since these wallets started their accumulation spree.

Market watchers point out this isn’t only another pump-and-dump situation. Rather, it marks a basic change in the way big investors view Cardano’s long-term possibilities in the brodaer cryptocurrency scene.

🐳📈 Cardano’s market cap has recovered by +11% on a day where most cryptocurrencies have retraced. One thing to continue watching is the continued behavior of whales and sharks.

Wallets holding at least 1M $ADA have been consistently accumulating since late November of 2023,… pic.twitter.com/pTHCqRCRC7

— Santiment (@santimentfeed) February 11, 2025

Long-Term Holders Display Unwavering Faith

Examining IntoThe Block’s statistics closer reveals an interesting picture of changing investment behavior.

Long-term ADA holders have raised their positions by 1.81%, exhibiting a wise investment strategy. The most notable change comes from the mid-term investors, sometimes known as “cruisers,” who have raised their holdings by a decent 7.65%.

This increase points to a maturing market in which investors are choosing steady expansion above short gains. Short-term traders, meantime, have clearly turned away from speculative trading by cutting their exposure by 11.75%.

Technical Indicators Point To Possible Price Discovery

For Cardano, the challenging terrain is opening doors for opportunity. Crypto guru Trader Steve has made striking comparisons between XRP’s recent price movement and ADA’s present market structure.

$ADA – @Cardano

I have a gut feeling this is ready to pull an $XRP and i’m bidding the fibonacci.. 🐳

Is anyone even still holding this? pic.twitter.com/ew2G7q1QmF

— TraderSteve_ (@TraderSteve_) February 8, 2025

Key support levels in the 62% and 78% Fibonacci retrace zones give the price a strong base for an eventual rise. Even though ADA hasn’t gotten back to its all-time high of $1.32 in December 2024, many experts are still optimistic about its future. An esteemed member of the cryptocurrency community, Yoel Jr., stresses the importance of the $0.81 level as a stopping point for confirming positive progress.

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Price Targets And Entry Opportunities Ahead

Based on Jonathan Carter’s study of the daily chart, ADA may be getting ready for its next significant action with a promising bull flag formation. A retest of the $0.60 level, according to Carter, would offer investors wishing to create positions strategic points of access.

The road ahead consists of three important pricing targets: $0.845, $1, and $1.325. These tiers mark potential pause points in what might be Cardano’s path to unprecedented success.

Although the crypto market is always erratic, the combination of whale accumulation, strong holder faith, and good technical setups points to Cardano positioning itself for a big market movement in the next months.

Featured image from DALL-E, chart from TradingView

Altcoins are showing signs of strength as the cryptocurrency market begins to recover from a significant correction in February. This rebound has pushed the total crypto market cap upward after bouncing off the $3 trillion mark on February 2.

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Notwithstanding, this correction saw the altcoin market cap dip massively after a rejection at $425 billion. However, a key observation from crypto analyst Rekt Capital noted that despite the rejection from this significant resistance level, the pullback in altcoin market capitalization is much shallower than in previous downturns. This observation shows that the bulls might be slowly taking charge among altcoins.

Altcoins: Market Cap Faces Rejection At $425 Billion, But Altcoins Gain Strength

Rekt Capital’s technical analysis underscores the importance of the $425 billion resistance level for the altcoin market, particularly focusing on the total market capitalization of altcoins outside the top 10. This analysis comes amid a broader downturn in the altcoin sector over the past week, which is a continuation of a longer correction that began in early January when the market cap peaked at a multi-year high of approximately $440 billion.

Despite facing strong rejection at this key level, the depth of the latest retracement remains notably shallower than previous corrections. The current pullback measures around 50% from the $425 billion resistance, whereas the last two significant downturns saw steeper declines of 69% and 85%. This milder retracement is a change that could influence the trajectory of the altcoin market.

A key takeaway from this trend is the apparent weakening of resistance at $425 billion, which indicates that bearish momentum after the retracement across the altcoin market isn’t as strong as it was in the previous cycles. Unlike previous cycles, where heavy selling led to deeper drawdowns, the current price action signals growing market resilience.

What Does This Mean For An Altcoin Season?

Rekt Capital’s analysis aligns with the expectations of investors eagerly anticipating the arrival of the altcoin season. The relatively shallow pullback from the $425 billion resistance level strengthens the argument that this altcoin season could unfold better than in the past two cycles.

Crypto analysts like Rekt Capital are fervently anticipating an altcoin season to roll into action, where profits in Bitcoin starts rolling into altcoins and the altcoin market outperforms Bitcoin.

In another analysis, Rekt Capital noted a recent rejection of the Bitcoin dominance around 64%. However, he did note that history shows that rejections around 64% are mostly momentarily, and the real rejection is around 71%. When the Bitcoin dominance reaches here, a repeat of history could see it reject very harshly into a cycle-defining altseason.

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For now, Bitcoin dominance remains strong, and a full-fledged altcoin season has yet to materialize. Analysts like Benjamin Cowen suggest that the anticipated altcoin rally may be on pause, with Bitcoin continuing to absorb the majority of market liquidity. Until dominance shows a clearer reversal, altcoin investors may have to wait a little longer.

Featured image from Pexels, chart from TradingView

Trump’s advocacy of US stablecoins may prove to be the accelerant for a stalled EU plan – the digital Euro.

Supporters are rubbing their hands in glee that their beloved pet project, a CBDC for the Euro, may finally become a reality. It’s been languishing in legislative limbo since 2023, as lawmakers were skeptical of the project.

The chances of the digital Euro being ready by the end of this year are slim at best. Even so, with major pro-crypto moves on both sides of the Atlantic, it’s a good time to get your crypto wallet ready. And while you’re at it, claim all the early-adopter benefits of Best Wallet’s $BEST token.

An EU Central Bank Digital Currency to Keep Capital Onshore

President Trump’s support of crypto stablecoins seems to have lit a fire under Brussels. The EU Parliament is fearful that Trump’s plan to let people pay with US stablecoins could empty European bank vaults, as they move their money across. So the digital Euro project is back on again to make sure Euros stay in Europe.

An EU stablecoin would be backed by the European Central Bank (ECB), providing a bulwark against any attempt by the US to destabilize European currency markets. The success of the project would most likely result in many more national stablecoins being launched in the future.

Even though Trump has banned the creation of a US central bank digital currency (CBDC) for now, that could change in the future. Then it would definitely be game on.

Good News For Non-Custodial Decentralized Wallets

If government-backed stablecoin currencies become the norm, we’re all going to need a crypto wallet. Preferably one that’s non-custodial, no KYC (Know Your Customer), and fully decentralized.

Step up, Best Wallet.

Our Best Wallet review found this wallet app gives other top crypto wallets a run for their money – promising everything future CBDC users will need to participate in a crypto economy. Unique selling points include the promise of a debit card and 8% cashback on every offline transaction.

And now, with the launch of Best Wallet’s own coin – the Best Wallet Token – the $BEST ecosystem could indeed go onto achieve its ambition of grabbing some 40% of the $11B+ crypto wallet market by next year.

Time to Buy Best Wallet Tokens

If Best Wallet is about to become the Daddy of crypto wallets, now would be an excellent time to get in while the $BEST token is still in presale, and therefore much cheaper, (now at $0.0239).

As a $BEST holder, you’ll also get extra benefits like cheaper transaction fees when using the Best Wallet app, higher staking rewards (currently at 185%), and voting and governance rights.

To buy into the future, just head over to the official Best Wallet Token presale, connect your wallet, and buy your coins with either a crypto balance or a credit card. But you need to be quick – you have just over 24 hours to get your tokens before the price increases again.

Never Use Funds You Can’t Afford To Potentially Lose

The outlook for an EU CBDC and for Best Wallet Token is certainly bullish, but nothing in life is guaranteed except death and taxes. That’s why you need to always stop for a moment, take a breath, and review your options. We can only make recommendations, not guarantees. That said, as global crypto adoption surges, we think $BEST could be worth a second look.